Silver Oak Securities Incorporated Trims Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Silver Oak Securities Incorporated lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,095 shares of the utilities provider’s stock after selling 351 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Public Service Enterprise Group were worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brookstone Capital Management grew its holdings in shares of Public Service Enterprise Group by 2.5% in the third quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock worth $683,000 after purchasing an additional 190 shares during the last quarter. CWM LLC grew its stake in Public Service Enterprise Group by 4.2% in the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock worth $1,932,000 after acquiring an additional 867 shares in the last quarter. Wedmont Private Capital grew its stake in Public Service Enterprise Group by 3.9% in the 3rd quarter. Wedmont Private Capital now owns 5,463 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 207 shares in the last quarter. Cypress Wealth Services LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $228,000. Finally, Merrion Investment Management Co LLC boosted its holdings in shares of Public Service Enterprise Group by 4.6% in the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock valued at $1,008,000 after purchasing an additional 500 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

Public Service Enterprise Group stock opened at $83.61 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22. The business has a fifty day moving average price of $86.15 and a 200-day moving average price of $85.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Activity

In related news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,612 shares of company stock worth $836,549 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $88.83.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.